Mountain View, CA (PRWEB) Might 19, 2009
The DealKat Corporation these days announced the launch of a credit card debt negotiation software platform that creates an straightforward-to-use, on the internet service for customers and creditors to more rapidly and easily settle or restructure unsecured debt in a hassle-free, non-confrontational manner.

With the rise in defaulted loans in some segments to reach double digits, banks are bracing for an onslaught of feasible create-offs. These create-offs and rising expenses have minimized shareholder return for the banks, and have handicapped a lot of banks from extending credit from the fear of accelerating defaulted loans and mounting losses. Not only are losses spiraling, but also lawmakers are on the verge of passing a set of difficult new consumer protections that could have a devastating effect on earnings. Shoppers at the identical time have observed their options get minimized, and numerous struggle to make ends meet in this predicament.

DealKat’s innovative service gives consumers a no-risk, low-expense or no-expense remedy to &#8232resolving their economic hardships without adding to them. Unlike the approximately two,000+ debt settlement firms, DealKat’s monetary service tool functions on a low flat-rate pricing and takes no hidden charges or percentages. A customer pays only after they accept the terms offered to them by a lender. If there’s no deal, the customer pays absolutely nothing. It is entirely up to the customer whether to accept the terms extended to them by their lender. For some shoppers there will be no charge at all, if the loan getting negotiated is with a single of our participating lenders.

The DealKat program works by using hugely refined mathematical algorithms that help the calculation of a single-time settlements, month-to-month payment settlement, and general flexible spend and loan modification. Businesses can comprehend incremental revenues from Web-based collections, plus right away decrease their expenses by shifting from costly telephone-based services. Banks would also be able to negotiate with their customers directly and get worthwhile analytics.

With the current financial downturn, customers have watched their debt accumulate. &#8232Lacking a better alternative, several men and women helplessly spiral deeper and deeper into a financial hole. When the only thing most want is to uncover a basic step-by-step resolution to overhaul their finances that does not take a lot of time and income. DealKat puts the tools for settling debts in an effective, on-line manner in the hands of shoppers. It eliminates the unpleasant confrontations and difficult-ball techniques and goes straight to effective negotiation terms. Negotiations are all on the web and at the consumer’s convenience, with out getting to drop precious time on hold, transferred or waiting to be place on hold, again. After the terms of the credit card debt are effectively renegotiated, the customer makes payments straight to the banks.

In addition to lessening the headaches of buyers, DealKat empowers banks with an automated program for collecting income that may otherwise be lost. Essentially a passive source for new revenue, the DealKat platform is individually customized by banks and lenders according to their unique variables. Entirely versatile and responsive to altering circumstances within a corporation, the DealKat Dashboard delivers 24/7 online access for changing the account parameters for what a bank will and will not accept in terms of settlement.

DealKat offers a platform of a win/win situation for banks and shoppers alike. Not only is there a much better situation of maintaining a customer for the banks, it also gives an chance for the banks to recover a greater share of the loss vs. promoting of the account in default. It also supplies shoppers with possibilities with no damaging their credit, and possibly budgeting to successfully navigate by means of tough financial instances. This is all accomplished with the breakthrough item designed by DealKat.

About DealKat:
Primarily based in Mountain View, California, DealKat is dedicated to the monetary accomplishment of &#8232consumers and Banks by helping them negotiate in times of financial hardship, and get them back on the correct track. DealKat delivers in an straightforward-to-use platform with convenient on the internet account management. DealKat is co-founded by Sabeer Bhatia and Abir Bhattacharyya. For questions, please contact Neel Naicker at (650) 210-3772 or e mail at dealkat (at) dealkat (dot) com. For extra data you can also visit our web site at DealKat.com.

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